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The market size for traction transformers was estimated at USD 1.5 billion in 2022. According to projections, the market for traction transformers will increase from USD 1.5 billion in 2023 to USD 2.7 billion in 2030, with a compound annual growth rate (CAGR) of 6.10% over the forecast period (2023- 2030). The primary market factors boosting market expansion are the liberalisation of the rail transportation network and a rise in government initiatives in the form of funding for railway infrastructure upgrading.
The increasing rate of urbanisation has created need for an alternate mode of transportation that is not only quick but also frequent and flexible during rush hour, which is driving the market CAGR for traction transformer. In big urban areas, both metro systems for intracity transit and high-speed rail networks for interstate travel are common forms of transportation. Generally speaking, metro railroads offer more comfort, efficiency, and speed than bus services, making them more appealing to decision-makers and potential passengers.
According to data from the World Bank, the rate of urbanisation worldwide increased quickly from 54.38% in 2019 to 54.83% in 2022 before reaching 55.28% in 2032. Because of this, traction transformers are being adopted and used more widely due to the rise in the number of rail projects.
Additionally, traction transformers, important parts of the traction chain, have an effect on how well trains run and how well operators provide their services. Major producers of traction transformer parts have diversified their product lines to include more power technologies, which are increasingly being used in high-speed, commuter, and regional trains as well as AC metros and tram-trains.
For the Z2N commuter train and T4 tram-trains running in Paris and its surroundings, Mitsubishi Electric Corporation announced today that it will be the first Japanese company to provide the French National Railways (SNCF) with prototype traction transformers. This announcement was made in December 2019.
Tap changing and rectifier are included in the market segmentation for traction transformers based on type. The tap changer category accounted for a sizeable market share in 2022. Transformers have a mechanism called a tap changer that enables the adjustment of various turn ratios in discrete steps. Connecting to a number of taps, which are access locations along the principal or secondary winding, allows for this. Additionally, automatic tap changers can be fitted on a winding with either a lower voltage or a greater voltage. However, automatic tap changers are typically mounted on the higher voltage (lower current) transformer winding for high-power generation and gearbox applications due to accessibility and to lessen current load while in use.
Based on overhead line voltage, the traction transformer market is segmented into AC System and DC System. The category for AC systems is anticipated to grow significantly over the course of the projected period. As consumers become more aware of the need to transition to energy-efficient products in order to mitigate the financial and environmental harm caused by outdated technology, the demand for AC-type equipment is rising. Additionally, the market is growing as AC systems are used more frequently on mainline railways.
Report Coverage
Global Traction Transformer research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Traction Transformer report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Traction Transformer competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Traction Transformer market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Traction Transformer market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Traction Transformer market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
CG Power and Industrial Solutions Limited (India), WEG (Brazil), Alstom (France). Altrafo Srl (Italy), Hind Rectifiers Limited (India), JST Group (France), Toshiba Corporation (Japan), International Electric Co Ltd (South Korea), Schneider Electric (France), Siemens (Germany), ABB (Switzerland), Mitsubishi Electric Corporation (Japan), Emco Limited (India).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Traction Transformer market based on the below-mentioned segments:
Global Traction Transformer Market, By Type
Tap Changing
Rectifier
Global Traction Transformer market, By Overhead Line Voltage
AC System
DC System
Global Traction Transformer Market, By Mounting Position
Underframe
Machine Room
Roof
Global Traction Transformer market, Regional Analysis
The increasing rate of urbanisation has created need for an alternate mode of transportation that is not only quick but also frequent and flexible during rush hour, which is driving the market CAGR for traction transformer. In big urban areas, both metro systems for intracity transit and high-speed rail networks for interstate travel are common forms of transportation. Generally speaking, metro railroads offer more comfort, efficiency, and speed than bus services, making them more appealing to decision-makers and potential passengers.
According to data from the World Bank, the rate of urbanisation worldwide increased quickly from 54.38% in 2019 to 54.83% in 2022 before reaching 55.28% in 2032. Because of this, traction transformers are being adopted and used more widely due to the rise in the number of rail projects.
Additionally, traction transformers, important parts of the traction chain, have an effect on how well trains run and how well operators provide their services. Major producers of traction transformer parts have diversified their product lines to include more power technologies, which are increasingly being used in high-speed, commuter, and regional trains as well as AC metros and tram-trains.
For the Z2N commuter train and T4 tram-trains running in Paris and its surroundings, Mitsubishi Electric Corporation announced today that it will be the first Japanese company to provide the French National Railways (SNCF) with prototype traction transformers. This announcement was made in December 2019.
Tap changing and rectifier are included in the market segmentation for traction transformers based on type. The tap changer category accounted for a sizeable market share in 2022. Transformers have a mechanism called a tap changer that enables the adjustment of various turn ratios in discrete steps. Connecting to a number of taps, which are access locations along the principal or secondary winding, allows for this. Additionally, automatic tap changers can be fitted on a winding with either a lower voltage or a greater voltage. However, automatic tap changers are typically mounted on the higher voltage (lower current) transformer winding for high-power generation and gearbox applications due to accessibility and to lessen current load while in use.
Based on overhead line voltage, the traction transformer market is segmented into AC System and DC System. The category for AC systems is anticipated to grow significantly over the course of the projected period. As consumers become more aware of the need to transition to energy-efficient products in order to mitigate the financial and environmental harm caused by outdated technology, the demand for AC-type equipment is rising. Additionally, the market is growing as AC systems are used more frequently on mainline railways.
Report Coverage
Global Traction Transformer research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Traction Transformer report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Traction Transformer competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Traction Transformer market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | CG Power and Industrial Solutions Limited (India), WEG (Brazil), Alstom (France). Altrafo Srl (Italy), Hind Rectifiers Limited (India), JST Group (France), Toshiba Corporation (Japan), International Electric Co Ltd (South Korea), Schneider Electric (France), Siemens (Germany), ABB (Switzerland), Mitsubishi Electric Corporation (Japan), Emco Limited (India). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Traction Transformer Market from 2021 to 2030.
- Market Forecast for Traction Transformer Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Traction Transformer competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Traction Transformer
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Traction Transformer market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Traction Transformer market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
CG Power and Industrial Solutions Limited (India), WEG (Brazil), Alstom (France). Altrafo Srl (Italy), Hind Rectifiers Limited (India), JST Group (France), Toshiba Corporation (Japan), International Electric Co Ltd (South Korea), Schneider Electric (France), Siemens (Germany), ABB (Switzerland), Mitsubishi Electric Corporation (Japan), Emco Limited (India).
Primary Target Market
- Market Players of Traction Transformer
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Traction Transformer market based on the below-mentioned segments:
Global Traction Transformer Market, By Type
Tap Changing
Rectifier
Global Traction Transformer market, By Overhead Line Voltage
AC System
DC System
Global Traction Transformer Market, By Mounting Position
Underframe
Machine Room
Roof
Global Traction Transformer market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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